Hubbell (HUBB) Outpaces Stock Market Gains: What You Should Know
Hubbell (HUBB) closed the most recent trading day at $327.57, moving +0.78% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.14%. Meanwhile, the Dow gained 0.22%, and the Nasdaq, a tech-heavy index, added 0.09%.
Heading into today, shares of the electrical products manufacturer had gained 7.49% over the past month, outpacing the Industrial Products sector's loss of 2.31% and the S&P 500's loss of 1.27% in that time.
Investors will be hoping for strength from Hubbell as it approaches its next earnings release. In that report, analysts expect Hubbell to post earnings of $4.01 per share. This would mark year-over-year growth of 30.19%. Meanwhile, our latest consensus estimate is calling for revenue of $1.41 billion, up 7.45% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.32 per share and revenue of $5.4 billion, which would represent changes of +44.26% and +9.21%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Hubbell. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Hubbell is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Hubbell is holding a Forward P/E ratio of 21.22. Its industry sports an average Forward P/E of 21.22, so we one might conclude that Hubbell is trading at a no noticeable deviation comparatively.
Investors should also note that HUBB has a PEG ratio of 2.12 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HUBB's industry had an average PEG ratio of 2.12 as of yesterday's close.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HUBB in the coming trading sessions, be sure to utilize Zacks.com.
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Hubbell Inc (HUBB) : Free Stock Analysis Report
